Loan Comparison: 4.83% vs 6.5%
740 Deer Clover, Castle Rock, CO 80108 · 4bd/3ba · $950,000
List Price
$950,000
Assumable Rate
4.83%
Remaining Balance
$405,853
Equity Gap
$565,198
Loan Type
FHAAdjust Your Scenario
$47,500
$47,500$565,198
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.83% (FHA)
Blended Rate: 6.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,704/moAssumable @ 4.83% + gap loan
$6,117/moAssumed loan: $2,137/mo
Gap financing: $3,981/mo
Your Savings on This Property
740 Deer Clover, Castle Rock · 4.83% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($565,198) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($47,500, 5% of purchase price) and a second mortgage for the rest ($517,698 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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